(A) A board of county commissioners, on behalf of its county board of elections, which has responsibilities related to the proper conduct of elections under state law, may apply for financial assistance from the loan fund.

(B) Participation by a board of county commissioners shall be voluntary.

(C) A county shall contribute to the cost of capital facilities. The secretary as the administrator of the loan fund acquisitions shall not authorize the contribution from the loan fund of more than fifty per cent of the estimated total cost of a county's purchase of voting machines, marking devices, and automatic tabulating equipment.

(D) Any costs incurred on or after January 1, 2008, by a county with respect to the purchase of voting machines, marking devices, and automatic tabulating equipment may be considered as the county cost percentage for the purpose of such acquisition.

(E) A loan fund acquisition for any one board of county commissioners shall not exceed five million dollars and shall be made only for new equipment purchased on or after the date applicable obligations have been issued by the treasurer of state, the net proceeds of which have been transferred to the loan fund.

(F) Financial assistance shall be provided only to the extent that moneys are available in the loan fund.

(G) Loan funds shall only be used to finance eligible costs, which include:

(1) Automatic tabulating equipment, marking devices, and voting machines. Any such equipment must be examined and approved by a board of voting machine examiners pursuant to section 3506.05 of the Revised Code.

(2) Capital facilities for which the treasurer of state is authorized to issue obligations pursuant to Chapter 154. of the Revised Code.